FAC Explorer

Finding 504477 (2023-004)

Significant Deficiency
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-11-01
Audit: 327010
Organization: Launch Alaska (AK)
Auditor: Smart Solutions CPA INC

AI Summary

  • Answer: There is a lack of control for reviewing potential fraud risks identified by TCWG.
  • Trend: This gap may lead to unaddressed fraud risks and increased vulnerability over time.
  • List: Implement a review process for TCWG reports to ensure timely actions are taken on identified risks.

Finding Text

There is no control in place for reviewing reports of potential fraud risks identified (if any) by Those Charged With Governance (TCWG) to determine any necessary actions in response to those risks during the period.

Corrective Action Plan

Management understands the importance of reviewing the report on potential fraud risks. This observation has been noted for future compliance.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 504475 2023-002
    Significant Deficiency
  • 504476 2023-003
    Significant Deficiency
  • 504478 2023-005
    Significant Deficiency
  • 504479 2023-006
    Significant Deficiency Repeat
  • 1080917 2023-002
    Significant Deficiency
  • 1080918 2023-003
    Significant Deficiency
  • 1080919 2023-004
    Significant Deficiency
  • 1080920 2023-005
    Significant Deficiency
  • 1080921 2023-006
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
12.300 Basic and Applied Scientific Research $1.73M
81.010 Office of Technology Transitions (ott)-Technology Deployment, Demonstration and Commercialization $289,793
11.307 Economic Adjustment Assistance $25,401
81.087 Renewable Energy Research and Development $22,251
90.100 Denali Commission Program $13,423